Capital Briefs: N.J. Bank Fined for Not Reporting Deposits

A federal judge has ordered a New Jersey bank to pay a $150,000 penalty and hire an independent auditor for failing to report 15 cash deposits that each exceeded $10,000, according to an announcement Friday by the Justice and Treasury departments.

Brunswick Bank and Trust, New Brunswick, N.J., denied the allegation, claiming that each of the 15 transactions cited by the government were, in fact, a series of individual deposits, each less than $10,000. But the court concluded that the individual deposits should be treated as one combined deposit because they were made at the same location on the same day.